Tom King isn't the only big name who's left Barclays

Since the beginning of February, 21 people have left Barclays’ investment bank in London, most of them with more than 10 years’ industry experience, according to filings on the Financial Conduct Authority Register.

Guillermo Felices, head of asset allocation research for Europe and Ian Scott, head of global and European equity strategy have left. Frances Horn, a director in global cash Asian equities for UK clients, Gavin Kearney, a London-based director in pan-Asian equity salesman, and Hideo Yoshioka, another director in pan-Asian equity sales, have left too.

Fabio Martirani, a director in global emerging equities research sales for UK and European accounts and Bimal Shah, an emerging markets equity trader, have also departed.

In research, Cristina Marzea, head of CEEMEA and LatAm banks research and Hanzade Kilickiran, head of Turkey equity research have gone.

And in fixed income, Andrea Marangoni, managing director and head of special situations and distressed debt has gone, along with high yield and investment grade trader Nikolai Hartley and credit analyst Darren Hook.

Barclays is understood to have begun announcing bonuses in its investment bank last week (although payment this year has been delayed until March), suggesting that anyone leaving the bank in the few weeks forewent his/her performance pay for 2015.

Now King's going. Has he opted for retirement in the face of a whole new plan to decimate the investment bank? Does he know something about Jes Staley's new strategy that we don't? After all, J.P. Morgan's analysts are pushing for a further 30% reduction in risk weighted assets in the unit on the grounds that it only generates returns of 6% compared to 14% in Barclays' other businesses.

We'll only know for sure on March 1st. Until then, Barclays' investment bankers can only hope that King's departure doesn't herald Jenkins'-style cuts, and is instead a reflection of Staley's preference for putting his own people in positions of power.

King isn't the only senior Barclays incumbent jettisoned under Jes. Staley also got rid of Jonathan Moulds, the former Barclays COO and BofA executive who only joined in January 2015. Moulds reportedly went because Staley wanted to 'install his own choice in the role' - namely Paul Compton, a former colleague from his time at J.P. Morgan.

If nothing else, therefore, King's exit suggests that Barclays remains highly political, and that it helps to be on Staley's side if you want to survive.